Depends on when you want to place SL: at the moment you open a position, for a pending order or when a position/pend. oder exists.
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Hello,
A little confusion about Stop Loss distance with Stop Level.
Which one of the following statements is correct regarding the calculation of stop loss?
1. Stop Loss should be a distance from the Order Open Price/Order Entry Price by Stop Level.
Or
2. Stop Loss should be a distance from the Bid/Ask Price by Stop Level?
Or
3. Stop Loss should be a distance from the Bid/Ask price as well as the Order Open Price?
Thank you.